Travel Thailand - Money and Banks

The official currency of Thailand is the Thai BAHT (pronounced - bart). 
One baht is divided into 100 satangs. The most commonly used coin is the 10 baht and the most commonly used note is the 100 baht.

• Travelers Checks are generally accepted only at dedicated foreign exchange shops or banks. 

• Automated Teller Machines (ATM's) are plentiful throughout Thailand, and most will accept cards issued by any of the major international banking networks (Plus, Cirrus, etc.)

• Major credit cards such as Visa, MasterCard, JCB and American Express, are readily accepted at most hotels, airlines, restaurants and upscale merchants.
• To prevent your credit/debit card from being declined, it is important to advise your card issuer of your travel plans in advance.
• Some institutions routinely block/deny unexpected charges from Thai merchants for fear of possible fraudulent use.

FOREX (Foreign Exchange) booths are very common and clearly post their daily exchange rates on an electronic notice board.

• Cash exchanges in Thailand incur no commissions or fees.
• Do not buy any Thai currency until you arrive in Thailand.
• The rates offered in Thailand are better than you could get back home.
• FOREX booths accept all major currencies.
• Do remember to bring only bank notes in good overall condition.
• FOREX booths generally will not accept bank notes that are torn, ripped, damaged or are excessively marked/stamped.

Cash

• There are no fees or charges to bring your home currency, and NO fees or charges to exchange it into Baht in Thailand.
• It's the easiest to use, and in most cases the cheapest as well, but has obvious risks associated with loss.
• You do not have to present ID to exchange foreign currency.
• Make sure you count your money for clerical errors before you walk away from the exchange counter.
• Again, you do not need to acquire any Thai baht before arriving in Thailand.

At Bangkok's Suvanabumi Airport, there are exchange booths right in the Customs Hall (after clearing Passport Control, in the baggage claim area) as well as in the general arrivals area. ATM's are also readily available in the airport. Rates of exchange are the same at both city and airport exchange locations. There is no advantage to waiting until you arrive in town.
ATM

• Most Thai banks are now charging a THB150 fee per withdrawal when you use their ATM.
• Your home bank may also levy a fee or fees.
• Using ATM's is a safer option than cash and more convenient than T/C's.
• This may be an excellent option if your home bank doesn't charge high fees.
• ATM's are plentiful and located just about everywhere.

*Prepaid Cash Cards - Like ATM's, may also be subject to fees by issuer as well as the local Thai bank ATM.
Remember, you DO NOT need any Thai Baht before your arrival in the Kingdom, to get Thai Baht ahead of time will subject you to a considerably poorer rate of exchange plus probable commission fees.
Exchanging Cash or T/C's at the HOTEL.

• While Hotels DO offer cash and T/C exchange facilities, the rate offered is usually very POOR compared to that offered by Banks/Forex booths.

Dynamic Currency Conversion

• When paying by Credit Card (hotels restaurants shops etc), insist on being billed in Thai baht.
• Being billed in your home currency, (a practice which has become more prevalent recently) involves both a hidden surcharge and bad exchange rates and can add 5% to the nett cost in some cases.
• The best advice is to insist on paying the local currency amount.
• If you are charged in your home currency, someone is going to make a profit on the deal, and it won't be you.